DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down – Should You Sell?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) gapped down before the market opened on Wednesday . The stock had previously closed at $10.76, but opened at $10.53. DoubleDown Interactive shares last traded at $10.69, with a volume of 5,728 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DDI. Wedbush raised their price target on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Northland Securities raised their target price on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th.

DoubleDown Interactive Trading Up 0.5 %

The company has a market capitalization of $522.75 million, a PE ratio of 4.59 and a beta of 0.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 21.25 and a current ratio of 21.25. The business has a fifty day moving average price of $12.46 and a 200 day moving average price of $13.15.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. The business had revenue of $82.98 million for the quarter, compared to analysts’ expectations of $83.49 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Analysts expect that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in shares of DoubleDown Interactive in the third quarter worth about $2,026,000. Renaissance Technologies LLC lifted its position in DoubleDown Interactive by 81.6% during the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after acquiring an additional 18,200 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in DoubleDown Interactive in the 3rd quarter worth approximately $81,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.